CTP 10.0% 5.5¢ central petroleum limited

friday afternoon selldown, page-9

  1. 24,192 Posts.
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    I don't see today's candle as ugly ... I think its just the normal retracement that you get with any stock that has spiked on good news (nothing travels in a straight line) on the market...

    In fact I see these pullbacks as a necessary part on any uptrend as they serve to clear out the dead wood ie short term traders or older stale holders and thus remove obstacles that may impeded the buying on the next leg upwards.

    We could be seeing the beginning of a bull flag starting to develop here. There is just too much good news due in the short term ...

    All is IMHO DYOR

 
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